Rep. Warren Davidson criticizes US crypto policy, calls it a threat to Bitcoin’s core principles

Representative Warren Davidson criticized current US cryptocurrency regulation, asserting that measures like the GENIUS Act and the pending CLARITY Act undermine Bitcoin's original vision of financial freedom. He contends these laws push digital assets toward account-based systems, which favor banks, discourage self-custody, and enable a wholesale Central Bank Digital Currency (CBDC). Davidson believes the regulatory environment has stalled markets by destroying the disintermediation use case. He fears that future legislation will only offer cosmetic nods to individual freedom while solidifying a permissioned and surveilled financial future, contrasting sharply with Bitcoin's promise of a permissionless, peer-to-peer system. Davidson urged constituents to advocate for banning CBDCs, opposing digital ID mandates, and protecting self-custody rights to safeguard transactional freedom.

(Source：Crypto Briefing)